Over the last year we have highlighted on our Protection Blog the importance of having a full and comprehensive protection package in place for yourself and your family should the unexpected ever happen. We found this to be even more pertinent when we recently contacted an existing client who was due for a mortgage review as their current deal and term were coming to an end.
As is standard at One 77, whenever we arrange a mortgage with you we will take you through all the options to ensure that you are in the best position to live comfortably once you have moved into your new home. We consider it part of our duty of care to you.
Our client was quoted by his Mortgage & Protection Adviser for a three pronged element to cover all their protection needs. This consisted of; Critical Illness Cover, Income Protection and Life Insurance. Having reviewed the policies and quotes our client decided he couldn’t quite afford the package as a whole and so opted for the Life Insurance element only.
Eight months later however, they were involved in an accident at work in which they broke their lower back. Sadly this has had a detrimental effect on their continuing viability for continuing full-time employment. This has led to a large reduction in their household income and though being able to cope on one partners income they now consider how his, his wife and daughters financial situation could have been so different had they taken the full protection package and began receiving the benefits it would have offered.
Upon contacting them for their mortgage review they relayed the above to their broker and wished for us to also share their story to forewarn others of potentially similar scenarios, and that you never knowing really “what is around the corner”.
Ensuring yourself and your family have the best protection possible in place is one of the most responsible measures you can take. To discuss your protection options or to review your current protection plan please contact one of our Protection Specialists on 01249 474959, or complete the form below and we will be in touch.
Don’t leave it too late. Don’t leave yourself exposed!